Dayang town boasts an excellent ecological environment. [Photo/lsnews.com.cn]

The State Power Investment Corporation Limited (SPIC) invested 170 million yuan ($24 million) in the construction of a photovoltaic power generation project in Dayang township, Jinyun county, Lishui, Zhejiang province.

In this construction agreement, signed on May 19, the clause, "enterprise purchases ecological products", appears for the first time. SPIC spent 2.79 million yuan purchasing the mediation service GEP (gross ecosystem product) in the project area, and will use it to reward farmers, and improve the environment.

The environmental products purchased by SPIC include local water conservation, soil conservation, air purification, water purification, carbon fixation and oxygen release, and climate regulation.

"We are determined to work with Dayang town to jointly protect the ecological environment and realize the double transformation and growth of GDP and GEP," said Hu Yayi, representative of SPIC.

According to Hu, benefiting from the excellent ecological environment in Dayang town, the battery attenuation rate of photovoltaic power generation panels is lower than that in areas with heavy haze and acid rain. That means the annual generating capacity of the project will increase by more than 10 percent, generating a greater ecological premium.